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Expat Mortgages

Buying a property in the UK if you’ve moved abroad can be time-consuming and frustrating, especially if you are paid in a currency other than UK sterling.

The lack of a permanent UK address can also hinder mortgage applications while many of the usual credit checks that lenders in the UK run do not work sufficiently well where borrowers live and work overseas.

It’s not impossible however and our advisers are specialists in securing attractive rates for British expats in just this position.

Which lenders offer expat mortgages?

Following several changes to the mortgage rules since 2010, the number of British lenders offering expats mortgages in the UK has got a lot smaller.

Unlike with straightforward residential mortgages, it’s much harder to find a list of ‘best buy’ rates. This is where a mortgage broker comes in. We have special relationships with a number of lenders that have experience dealing with expat lending.

These include several smaller building societies and a few specialist lenders that deal only with intermediaries.

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What Our Customers Say

Anonymous - Purchase
Great service, regular communication, made us feel secure with the application in their hands. ...Read More
Anonymous - Remortgage
With unusual circumstances, an excellent service to find and organise a mortgage to get our son on the property ladder. Not cheap, but worth it. ...Read More
Anonymous - Buy to Let Remortgage
Capital Fortune went the extra mile to find me the right lender.Peter Bartlett and his team worked hard to match my needs to the right lender. ...Read More
Anonymous - Buy to Let
Found us a mortgage when we didn't think it was going to be possible, given our rather unique circumstances. Always very helpful, and patient with all the paperwork. ...Read More

Find out more

Can I Get an Expat Mortgage?

Lenders are tough on expats because they have to show evidence that they know you can afford to repay the mortgage payments monthly.

If you are paid in a currency other than sterling, your ability to afford the repayments will be affected by the exchange rate between the pound and the currency you are paid in. This means that most lenders will lend you a mortgage on a smaller proportion of your salary than if you were earning in the UK.

There are more options for those looking to borrow more than £100,000 and who already have a mortgage in the UK. Also expats working in a country that is signed up to the Financial Action Task Force and who earn more than £40,000 or the equivalent in US dollars or in euros are in a reasonably strong position.

There is still help we can offer if your income doesn’t fit this mould. Speak to one of advisers for more information.

Contact Capital Fortune

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What About Expat Buy-to-Let?

While some expats look to buy a property for themselves when they’re coming home after working abroad and therefore need a residential mortgage, most expats buy a property at home and rent it out while they live and work abroad.

For this, you will need a buy-to-let mortgage. The way buy-to-let affordability is assessed has become stricter in recent years but generally speaking, you will need to show that the rental income on the property exceeds the mortgage payment at a ratio of 145 per cent.

For more on buy-to-let mortgages, click here

Because the mortgage affordability relies on rental income in the UK, this can make it easier to secure than an expat residential mortgage. However, proof of address, credit history and income will still need to be verified, especially as some buy-to-let lenders now ask to see personal income to supplement rental income.

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Offshore Mortgages

There are still some lenders that accept applications for offshore companies or individuals using trusts based offshore. This is type of lending can be complex in terms of the tax payable, with the government making several changes in recent Budgets to the way in which offshore investments are treated.

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For this reason, we would always recommend you get independent tax advice if considering using offshore vehicles. Our advisers are specialist in helping investors using these types of investing structures and would be happy to speak to you about how we can help.

Find Out Current Best Rates

Property Value
£
Mortgage Amount
£
Reason for Mortgage
Mortgage Type
Lender Initial Rate Type For Then APR* ERC* Fee
Monmouthshire BS 2 Year Discount £1999 Fee Purchase BMO0.99%Discount2 years 5.24%4.4%2 years £2149
Beverley BS 2 Year Discount £1895 Fee BBV1.28%Discount2 years 4.75%4.2%2 years £1895
Accord Intermediary 2 Year Discount £1495 Fee ACC1.29%DiscountNov-20204.99%4.2% £1495
Leeds BS 2 Year Tracker £999 Fee BLH1.32%TrackerOct-20205.69%4.8%31-Oct-2020 £999
Leek United BS 2 Year Discount No Fee LEE1.34%Discount2 years 5.44%5% £0
Leeds BS 2 Year Fixed £1999 Fee BLH1.39%FixedNov-20205.69%4.9%30-Nov-2020 £1999
Barclays Bank 2 Year Tracker £1999 Fee Purchase Wealth BWO1.44%Tracker2 years 4.24%3.8% £1999
Nationwide BS RETENTION 2 Year Tracker £999 Fee Existing Borrowers Cashback BNW1.44%Tracker2 years 4.24%3.9% £999
Nationwide BS 2 Year Tracker £999 Fee BNW1.44%Tracker2 years 4.24%3.7% £999
Nationwide BS FTB 2 Year Tracker £999 Fee Cashback BNW1.44%Tracker2 years 4.24%3.9% £999
Mortgage product availability is subject to status and availability. Although great care is taken to ensure that product details are as accurate as possible no liability can be accepted for errors or omissions.
*APR = Annual Percentage Rate *ERC = Early Repayment Charge
*These figures are only illustrative. An assessment of your needs will be confirmed before a recommendation can be made. A Key Facts Illustration, which is personal to your circumstances, will be provided if a recommendation for a mortgage product is made.

Best Discounted Rates

LenderRateType
Monmouthshire BS 2 Year Discount £1999 Fee Purchase BMO0.99%
then 5.24
(variable)
DiscountRead More
Yorkshire Building Society Direct 2 Year Discount £1495 Fee YBS1.17%
then 4.99
(variable)
DiscountRead More
Beverley BS 2 Year Discount £1895 Fee BBV1.28%
then 4.75
(variable)
DiscountRead More

Best 5 Year Fixed Rates

LenderRateType
Yorkshire Building Society Direct 2 Year Fixed £1495 Fee YBS1.38%
then 4.99
(variable)
FixedRead More
HSBC Direct 2 Year Fixed £1499 Fee C/A Premier Standard HSB1.39%
then 4.19
(variable)
FixedRead More
Leeds BS 2 Year Fixed £1999 Fee BLH1.39%
then 5.69
(variable)
FixedRead More
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